(DOWNLOAD) "Some Theory and History of Dollarization." by The Cato Journal * eBook PDF Kindle ePub Free
eBook details
- Title: Some Theory and History of Dollarization.
- Author : The Cato Journal
- Release Date : January 01, 2005
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 237 KB
Description
The unfamiliar, however simple, is often hard to understand because it requires a slightly different way of thinking. Official dollarization is a case in point. It is hard to conceive of a simpler monetary system than using somebody else's currency. There is no central bank, no independent exchange rate, and more generally no independent monetary policy. Yet precisely because most countries have central banks, people often think about dollarization by using a frame of reference derived from central banking. In this article, I make a few points about the theory and history of dollarization that I hope will provide a better understanding of the system. All "Fixed" Exchange Rates Are Not Alike
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